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Business
Lottie Gibbons & Vicky Shaw & Sophie Finnegan

HSBC will give people £200 cash for free for switching bank accounts

Bank account holders can get a free £200 if they switch to HSBC. The bank launched its biggest switching offer since 2018 on Monday at a time when many people need it the most.

Customers looking to switch to an HSBC Advance or Premier Bank Account can get £200 for free by using the Current Account Switch Service (Cass). It comes as other banks also have cash offers to switch - which could prove useful at a time when people are struggling with rising bills, the Liverpool Echo reports.

Nationwide Building Society is offering £200 to current account customers looking to make a switch, while First Direct is offering £175 and Lloyds Bank has a £150 switching offer. People will need to work out whether switching is a good option for them in the longer term by weighing up the perks as well as any fees and charges.

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